COVID-19 has affected diamonds
Although the pandemic started in 2019, it's the year 2020 that will be remembered for it. The
pandemic has affected numerous industries (although some have benefited from it, such as online services),
including diamonds industry and sales.
The pandemic has brought diamonds industry to almost a full
stop, with a huge plunge in sales. Initially the companies were reluctant to offer lower prices of diamonds, to
avoid flooding the market with low priced diamonds.
But some of the producers, such as Russian ALROSA and even De Beers, have cut some
prices for precious stones, after their sales dropped down drastically, as a result of coronavirus
|COVID-19 pandemic has negatively affected diamonds
bringing sales to a full stop and resulting in some reduced prices.
Let's give some thought to those who have become the victims of
it and those who are fighting it. Remember - keep your social distance and consult your health authorities on what
needs to be done as prevention.
While the overall pandemic situation has been growing worse in
the recent months of October and November 2020 (cold weather, flu seasons, etc.), there appears to be some good
news with the developing of COVID-19 vaccine from a number of different companies, from Russia and China, to the
likes of Pfizer and Moderna pharma companies.
But these are just the first ones, not yet peer-reviewed, with
side effects unknown and probably just chasing the big profits. Remember, it usually takes about 5 years for a
vaccine to be developed, tested and approved. It's true that there is a bit of a rush now, some bureaucratic
impediments are jumped easier and technology is constantly getting better, especially in bio industries. However,
it all seems a bit rushed in order to be the first and most profitable, of course. The proper, effective vaccine
(not hyped up ones) is probably further down the road, in a year or two.
We can only anticipate that the situation will improve sometime
next year, when potential vaccines might become available, or show some positive
results. In the meantime, look after
yourself and your family.
More info about the current crisis.